Spinnova has officially acquired 100% ownership of Woodspin and Suzano Finland after purchasing the remaining shares from Suzano S.A. for just two euros. This strategic move gives Spinnova complete authority over its innovative wood-based fiber production, which is transforming the sustainable textile industry.
Spinnova’s Bold Step in Sustainable Fiber Production
By taking full ownership, Spinnova aims to accelerate the development and commercialization of its unique Spinnova fiber technology. The company uses wood as a raw material to produce textile fibers with minimal environmental impact. This acquisition marks a significant step toward scaling up eco-friendly alternatives in the fashion and textile industry.
What This Means for the Industry
With control over both Woodspin and Suzano Finland, Spinnova can streamline operations and invest in further innovation. The company stands at the forefront of sustainable fashion, offering a renewable solution to traditional textiles. As demand for responsible materials rises, Spinnova’s move positions it as a leader in the global shift toward greener manufacturing.
